CASCADE METALS PTE. LTD. entered into a legally-binding memorandum of understanding to acquire Libra Engineering Pte. Ltd. from Libra Group Limited (Catalist:5TR) for SGD 0.1 million on December 31, 2019. The consideration price will be paid in cash. As part of the transaction, Cascade Metals PTE. Ltd. and Libra Group Limited shall negotiate in good faith, and use reasonable endeavors to agree on the terms and conditions of the sale and purchase agreement and any other agreements to be entered into definitive agreements with respect to the proposed disposal on or prior to January 31, 2020 or such other date as the parties may agree in writing as well as all related matters to enable the consummation of the proposed disposal. The signing of the definitive agreements shall be conditional upon the following conditions that are board approvals of Cascade Metals PTE. Ltd. and Libra Group Limited, approvals from Libra Group Limited's sponsor, novation of all debts of the Libra Engineering Pte. Ltd. that are guaranteed by the Libra Group Limited, cancellation or termination of all guarantees provided by the Libra Engineering Pte. Ltd. to any lenders in favor of the Libra Group Limited, cancellation or termination of all intra-group debts owing by the Libra Engineering Pte. Ltd to the Libra Group Limited and other customary conditions. As on February 17, 2020, Libra group and Cascade Metals have agreed to extend the long stop date to enter into the definitive agreement to March 31, 2020. As on April 2, 2020 parties have agreed to extend the long stop date to enter into the definitive agreement to May 31, 2020. As on May 29, 2020 parties have agreed to extend the long stop date to enter into the definitive agreement to June 30, 2020. Goh Keng Haw of Foxwood LLC acted as legal advisor to Cascade Metals PTE. Ltd. CASCADE METALS PTE. LTD. cancelled the acquisition of Libra Engineering Pte. Ltd. from Libra Group Limited (Catalist:5TR) on June 30, 2020. Parties were unable to enter into a definitive agreement and in anticipation of the expiry of the memorandum of understanding scheduled on June 30, 2020, Libra Engineering initiated its procedure of voluntary winding up. As on June 29, 2020, Libra Engineering appointed Saw Meng Tee and Ong Shyue Wen of EA Consulting Pte Ltd as joint and several provisional liquidators of Libra Engineering for the creditors’ voluntary winding up.